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Magna Industries

In: Business and Management

Submitted By lprs0055
Words 1552
Pages 7
Individual Assignment Advanced Management Accounting ACCT 4000

Presented to: Alan Dryden

Presented by: Priscilla Lee

Date: November 19, 2015
Magna International Inc. is a global automotive supplier, which manufactures auto parts, based in Aurora, Ontario, Canada. Magna consists of “285 manufacturing operations and 83 product development, engineering and sales centres in 29 countries, …[with] over 125,000 employees.” 2 Magna supplies auto parts to companies such as the Big 3, General Motors, Ford Motor Company, and Chrysler LLC. As well as, Tesla Motors, Volkswagen, BMW, Toyota, and other auto companies internationally. The vision that Magna stands by states:
We aim to be our customers’ preferred global supplier partner for the automotive industry, by delivering the best value built on innovative products and processes and World Class Manufacturing. We strive to be the employer choice, an ethical and responsible corporate citizen and a superior long-term investment for our shareholders.[1] Here, this report will discuss some of the management strategies, and their control systems and processes that assist Magna deal with problems, improvements, and future growth of the organization. A “strategy specifies how an organization can create value for its customers while differentiating itself from its competitors”[2] In Magna’s Board Charter document, displays Magna’s Corporate Strategy, it displays the Strategic Planning Process that will be adopted. At the corporate and automotive system group levels, the business plans and strategies will be presented by the Executive Management and automotive systems group management for discussion. Regarding the strategic planning for the Corporation, including identification of future trends, opportunities and

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